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According to Reuters, sterling had dipped to $1.4253 early in the day - a low not seen since late March 2009 - before recovering slightly to be priced at $1.4388 by 08:00 BST.
The dip came as housing company Rightmove revealed asking prices for residential properties in Britain climbed slower in May than they had in the previous month, prompting fears the recovery in the sector may be slowing.
"Housing data could've weighed a little bit as it came weaker than expected," remarked Geraldine Concagh of AIB Group Treasury, adding "the general concern about debt" is also causing sterling to remain weak.
Last Friday, the British currency fell against its US counterpart after statistics showed the UK's trade deficit widened to £7.522 billion in March.
Posted by Greg Secker
